Parker-Hannifin Co. (NYSE:PH) Shares Sold by Aspire Private Capital LLC

Aspire Private Capital LLC lessened its stake in Parker-Hannifin Co. (NYSE:PH) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,444 shares of the industrial products company’s stock after selling 27 shares during the quarter. Aspire Private Capital LLC’s holdings in Parker-Hannifin were worth $1,554,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. West Branch Capital LLC acquired a new stake in Parker-Hannifin in the 3rd quarter valued at $25,000. Bangor Savings Bank lifted its position in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC boosted its holdings in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire acquired a new stake in Parker-Hannifin in the fourth quarter valued at approximately $35,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin during the third quarter worth $39,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Trading Up 1.2 %

Parker-Hannifin stock opened at $677.71 on Wednesday. Parker-Hannifin Co. has a 1 year low of $463.16 and a 1 year high of $712.42. The firm’s 50 day moving average price is $670.20 and its two-hundred day moving average price is $621.16. The firm has a market cap of $87.23 billion, a price-to-earnings ratio of 30.61, a price-to-earnings-growth ratio of 2.74 and a beta of 1.45. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. Parker-Hannifin’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $5.96 EPS. On average, research analysts predict that Parker-Hannifin Co. will post 26.73 EPS for the current fiscal year.

Insider Transactions at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the transaction, the vice president now owns 5,465 shares in the company, valued at $3,831,839.40. This represents a 30.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock valued at $12,303,829 over the last ninety days. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Mizuho boosted their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. KeyCorp boosted their price target on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Wells Fargo & Company decreased their target price on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $722.94.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.